ABCB

EX-99.1

2 exhibit991pressreleasedate.htm

EX-99.1

Document

News Release

AMERIS BANCORP ANNOUNCES THIRD QUARTER 2026 FINANCIAL RESULTS

Highlights of Ameris’s results for the third quarter of 2026 include the following:

•Net income of $116.1 million, or $1.73 per diluted share

•Return on average assets of 1.61%

•Return on average tangible common equity(1) of 15.01%

•Efficiency ratio of 49.32%

•Growth in average earning assets of $300.5 million, or 4.5% annualized

•Loan growth of $173.1 million, or 3.1% annualized

•Deposit growth of $319.4 million, or 5.6% annualized

•Noninterest-bearing deposits represent 29.2% of total deposits

•Annualized net charge-offs declined to 0.19% of average total loans

•Tangible book value(1) growth of $0.55 per share, or 4.8% annualized, to $45.65 at September 30, 2026

ATLANTA, GA, October 22, 2026 - Ameris Bancorp (NYSE: ABCB) (the “Company” or “Ameris”) today reported net income of $116.1 million, or $1.73 per diluted share, for the quarter ended September 30, 2026, compared with $106.0 million, or $1.54 per diluted share, for the quarter ended September 30, 2025.

For the year-to-date period ending September 30, 2026, the Company reported net income of $278.0 million, or $4.13 per diluted share, compared with $303.8 million, or $4.41 per diluted share, for the same period in 2025.

Commenting on the Company’s results, Palmer Proctor, the Company’s Chief Executive Officer, said, “Ameris delivered another strong quarter, reflecting our consistent focus on profitable growth, expense discipline and prudent balance sheet management. We achieved a net interest margin of 3.87%, with mid-single-digit growth in average earning assets and deposits. Return on average assets exceeded 1.60%, and our efficiency ratio improved to below 50%. Our capital position, core funding base and credit reserves remain strong, providing a solid foundation as macroeconomic conditions evolve. We remain measured in our approach to growth, maintaining disciplined underwriting and carefully allocating capital. We are confident in the strength of our Southeast franchise and remain focused on deepening customer relationships and driving disciplined organic growth. As always, our strategic decisions will be guided by the best long-term interests of the Company and our shareholders.”

Net Interest Income and Net Interest Margin

Net interest income on a tax-equivalent basis (TE) was $258.6 million in the third quarter of 2026, an increase of $5.2 million, or 2.0%, from last quarter and $19.7 million, or 8.2%, compared with the third quarter of 2025. The Company's average earning assets increased during the quarter by $300.5 million, or 4.5% annualized, primarily due to an increase of $260.0 million in average portfolio loans outstanding and an increase of $99.3 million in the average balance of investment securities, which was partially offset by a decrease of $80.7 million in average loans held for sale.

The Company's net interest margin was 3.87% for the third quarter of 2026, a decrease of one basis point from the second quarter of 2026 and a seven basis point improvement from the third quarter of 2025.

Yields on earning assets increased one basis point during the quarter to 5.62%, compared with 5.61% in the second quarter of 2026. This increase is primarily related to a three basis point increase in yield on portfolio loans outstanding and a 29 basis point increase in yield on loans held for sale, which was partially offset by a 10 basis point decrease in yield on taxable investment securities during the third quarter of 2026.

The Company’s total cost of funds increased three basis points to 1.94% in the third quarter of 2026, compared with 1.91% in the second quarter of 2026, and improved 11 basis points compared with the third quarter of 2025. Deposit costs increased five basis points during the third quarter of 2026 to 1.82%, compared with 1.77% in the second quarter of 2026. The cost of interest-bearing deposits during the quarter was 2.58%, an increase of six basis points compared with the second quarter of 2026.

Noninterest Income

Noninterest income decreased $9.4 million, or 12.7%, in the third quarter of 2026 to $64.2 million, compared with $73.5 million for the second quarter of 2026, driven primarily by a $7.2 million decrease in gain on securities. Mortgage banking activity decreased $3.3 million, or 10.1%, to $29.2 million in the third quarter of 2026, compared with $32.5 million for the second quarter of 2026. Total production in the retail mortgage division decreased $157.9 million, or 13.7%, to $994.4 million in the third quarter of 2026, compared with $1.15 billion for the second quarter of 2026. The retail mortgage open pipeline was $439.9 million at the end of the third quarter of 2026, compared with $609.3 million at the end of the second quarter of 2026. Gain on sale spreads increased to 2.09% in the third quarter of 2026 from 2.04% for the second quarter of 2026. Equipm

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